Question
Through Yodlee account aggregation Web site, I just found out that BankOne credit card has shortened the Grace Period from around 26-27 days to 20 days only from now on and I confirmed it with a CSR on the phone today. Of course, I don't recall any notice about this in the mail previously.
AND I'm sure once I receive the statement, the actual payment due date will just be in about a week. I totally loathe banks to do this kinda tricks on people so that they can charge ever mounting late fees when people forget!
BE AWARE YOUR PAYMENT DUE DATE for your incoming credit card bills from BankOne!
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Bank One purchased First USA I believe. My payment due date is often about a week to 10-12 days from when I receive my statement.
My bill closed on 3/12 - I received the bill on 3/19 and it's due on 4/1. They're also pulling another fast one...
The envelope LOOKS like junk mail. The return address is "Cardmember Services" versus First USA (as before). Above the address it says "statement enclosed."
I think this is very misleading. Lots of junk mailers use nebulous envelopes to try to get people to open then. I almost threw this one away.
My new rule - I check the website near my cycle closing date and schedule a payment immediately for a week before it's due.
This company gets uglier & uglier.
Mary
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The payment location has changed also. I needed to add two extra days to assure the payment arrived on time.
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I ignore my paper statements and regularly check the web and pay online.
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Don't know if you can set up alerts and reminders with BankOne but I set up a reminder to pay my AA Mastercard through Citicard. I set the reminder to arrive at my yahoo address about 2 days before the due date then I pay it online. I believe you can set reminders at Amex also though not sure.
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Two months ago I received my statement the day AFTER the due date!
Fortunately I had already paid... figured the bill was lost in the mail.. my miles posting is always a good prompt.
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I ignore my paper statements and regularly check the web and pay online.
ditto. this is the way to go. i have a couple of credit cards and regularly monitor activity on-line. plus, i pay all my bills on-line.
Answer
Bank One purchased First USA I believe. My payment due date is often about a week to 10-12 days from when I receive my statement.
My bill closed on 3/12 - I received the bill on 3/19 and it's due on 4/1. They're also pulling another fast one...
The envelope LOOKS like junk mail. The return address is "Cardmember Services" versus First USA (as before). Above the address it says "statement enclosed."
I think this is very misleading. Lots of junk mailers use nebulous envelopes to try to get people to open then. I almost threw this one away.
My new rule - I check the website near my cycle closing date and schedule a payment immediately for a week before it's due.
This company gets uglier & uglier.
Mary
Bank One purchased First USA a number of years ago. The reason the envelopes were switched is that the First USA name was to gradually be eliminated in favor of the Bank One brand name. However, as Bank One is now merging with JP Morgan - Chase, with the deal expected to close in June after all regulatory hurdles are cleared, the name change is on hold and it has not yet been announced what name will be used after the merger is completed. There was no motive to increase fee income; the objective was to move away from the First USA brand to the Bank One brand.
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While I appreciate your post they could have made the envelope a little less junk mail looking. I almost trashed it.
With First USA/Bankone, whoever they are, I always think the worst because they are the ABSOLUTE worst CC to deal with. The often change the fine print and put the notification in the smallest print possible.
Does it REALLY take 7-10 days to print a statement & get it into my mailbox? Why did they stop postmarking the envelopes?
Does it take over 3 days to post an electronic payment to my account? Why don't they use the date they actually receive the payment?
This is all to get more fees.
Sorry, if UA had another card I would dump this bank in a heartbeat.
Mary
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I agree that Bank One isn't the best outfit to deal with. Luckily, I don't deal with them too much on anything outside the ordinary. I have my UA card, I haven't had problems getting the statement on time and haven't had problems getting payments posted on time. As long as that continues, I guess it'll be okay. I don't use this card outside the country (use one from MBNA instead because there's no surcharge). And I don't think I've even had to dispute a charge with them. That's just luck of the draw, though. One day I might. MBNA has been excellent in service. Wouldn't it be nice if the UA card was from them instead?
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With First USA/Bankone, whoever they are, I always think the worst because they are the ABSOLUTE worst CC to deal with.
Worse than Providian? :)
And I don't even think that Providian is necessarily the very worst. It's just the worst one I can think of offhand. They took over a Discover-associated account where I had a promo balance at just few percent a few years back and said that the new rate was 26% or something outrageous like that, with just a few weeks of notice (and I only got one notice explaining any of this). Good thing the balance was small and I was able to just pay it off right away and cancel the card. I've never heard of First USA/Bankone doing anything THAT sinister.
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Worse than Providian? :)
They...said that the new rate was 26% or something outrageous like that, with just a few weeks of notice (and I only got one notice explaining any of this)...I've never heard of First USA/Bankone doing anything THAT sinister.
I'd say that FirstUSA/BankOne is certainly one of the worst. And once, they did this very thing to me on a VISA--jacked up the interest with next-to-no-notice, buried on a form that claimed to outline my latest 'card benefits'. Claimed that my revolving balance each month was 'too high'. The problem with that statement: I had no revolving balance...absolutely none.
About six or seven years ago, my perception (and cash flow) of FirstUSA was very respectable. No sooner were they associated with the BankOne name and that perception (my reality) went threw the floor. No more money for them from me...